Re: I am needing info about statutes for credit card debt.

Posted by CAK (66.140.213.77) on November 15, 2003 at 00:31:45:

In Reply to: I am needing info about statutes for credit card debt. posted by Susan on November 14, 2003 at 23:03:56:

Was the Judgment against you and your husband or just you?

I'm sure the abstract was filed with the clerk and the lien on your house is probably going to stay until satisfied. The winner is allowed to file the abstract and a smart Plaintiff will do so, but will continue to look for other assets that can be levied on for a faster pay out.

You mentioned the Judgment was not listed on your CR. These kind of Judgments may not always be reported to CRA's. I find that to be true more times than not and especially Judgments from Small Claims. It could however be reported at any time.

There is no Missouri Statute that says, Credit Card debt shall not be a lien on real property.

From what I've read it doesn't sound as if the Plaintiff did anything that would cause this Judgment to be vacated.

Your court date on the 19th tells me that they are not satisfied with just a lien on your real property. They are looking for other assets that could be levied and sold immediately in order to satisfy this Judgment. That way they get paid quicker. They will be asking all kinds of questions and not just about you. Be careful of your Personal Property especially your vehicles with or without liens. They can file a General Execution and relieve you of your vehicle/s pronto, provided there is sufficient equity above your exemptions. Missouri has a $1000.00 exemption for a vehicle. So if you have a $10,000 dollar vehicle, I can assure you they will levy on that asset. There are other exemptions as well that could be combined to give you a little more protection.

Rather than allow them an opening to levy on personal assets. It may be to your advantage to pay this from the equity in your home. Wrap it on the back side of your existing Mortgage and keep your payment the same. Then the lien would obviously be removed and I would ask them to vacate their Judgment against you so it never lands on your CR.

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